A bill to provide tax treatment for exchanges under the final system plan for ConRail.

[AI summary unavailable — showing source text] Authorizes the nonrecognition of gain or loss, under the Internal Revenue Code, on the transfer of rail properties or stock or securities of a transferor railroad corporation to the Consolidated Rail Corporation pursuant to an order under the Regional Rail Reorganization Act to carry out the final system plan, in exchange solely for stock of the Consolidated Rail Corporation and certificates of value of the United States Railway Association. Prohibits the carryover of any net operating loss of a transferor corporation to the Consolidated Rail Corporation. Makes technical and conforming amendments.…